Other Business Formation and Governance Issues

The pages in this section elaborate on a variety of issues relevant to choosing a business structure and starting a business. They are not meant to stand alone, but rather are pages referenced repeatedly throughout the Choosing a Business Form and How to Start a Business sections. A short description of the pages follow:

  • Limited Liability: This page explains what it means for an owner of a business to enjoy limited liability for the debts and obligations of the business.
  • Personal Liability: This page explains what it means for the owner of a business to be personally liable for the debts and obligation of the business.
  • Piercing the Corporate Veil: This page discusses the extremely limited circumstances under which a court might disregard the limited liability characteristic of an LLC or corporation.
  • New York City Taxes: This page has details about the taxes that apply to New York City businesses.

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